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Wealth & Asset Management
THE CRISPIN DAVIS FAMILY TRUST
REPORT AND ACCOUNTS
YEAR ENDED 5 APRIL 2025
Version: 27/10/2025

THE CRISPIN DAVIS FAMILY TRUST
INDEX
Year ended 5 April 2025
General information
Report of the trustees
Statement of trustees' responsibilities
Auditor's report
Statement of financial activities
Balance sheet
Cashflow statement
Accounting policies
Notes to the financial statements
Page
2
3-4
5
6-9
10
11
12
13 - 14
15 - 17

THE CRISPIN DAVIS FAMILY TRUST
GENERAL INFORMATION
Year ended 5 April 2025
Trustees
Principal Office
Independent Auditor
Investment advisers
Sir Crispin Henry Lamert Davis
Lady Jean Anne Davis (deceased 04/06/24)
Dr Julia Anne Davis
Ms Caroline Sarah Davis King
Mrs Angela Jane Spaid
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS
Gibson Booth
Chartered Accountants & Statutory Auditors
New Court
Abbey Road North
Shepley
Huddersfield
HD8 8BJ
CCLA Investment Management Ltd
COIF Charity Funds
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Registered charity number
1150637
2

THE CRISPIN DAVIS FAMILY TRUST
REPORT OF THE TRUSTEES
Year ended 5 April 2025
The trustees present their report with the financial statements of the charity for the year to 5 April 2025. The trustees
have adopted the provisions of Accounting and reporting by Charities: Statement of Recommended Practice applicable
to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the Uk and
Republic of Ireland (FRS 102) (effective 1 January 2019).
Object and activities for the public benefit
The object of the Charity, under the terms of the Trust Deed;
to relieve hardship amongst children and young people across the world who are in need of help as a result
of poverty, lack of education or illness.
for such other charitable purposes for the public benefit, as the trustees shall deem fit.
The trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on the
public benefit when reviewing the trust's aims and objectives and in planning future activities and setting grant making
policy for the year.
Summary of Achievements
During the year the trustees have continued to support organisations in accordance with the objectives in the trust deed
such as supporting the Tushinde Children's Trust which works with vulnerable children and their families in Kenya.
Financial Review
Unrestricted funds
Incoming resources for the year amounted to £215,152. Grants were £501,000 and the support cost amounted to f6, 150.
This compares with incoming resources of £210,276, grants of £468,826 and support cost of £5,880 in the previous year.
Expendable endowment
Expendable endowment stood at £8,279, 131(2024: £9,246,462) at the balance sheet date.
Principal funding source
The principal funding source comprises gifts from the trustees of the charity and from investment income.
Investment policy and objectives
The trustees have agreed a medium risk profile.
Reserves policy
The trustees aim to maintain the endowment fund at a level to provide a sufficient capital base to generate an income
level sufficient to maintain the level of grant making planned in the future. The trustees are satisfied with the current level
of reserves.
3

THE CRISPIN DAVIS FAMILY TRUST
REPORT OF THE TRUSTEES
Year ended 5 April 2025
Structure, governance and management
Constitution
The Crispin Davis Family Trust is constituted by Deed of Trust dated 10 January 2013 and is a registered charity,
Number 1150637.
Trustees
New trustees may be appointed by the existing trustees by virtue of a power contained within the Trust Deed.
The Trust Deed provides for a minimum of three trustees.
Governing document
The Charity is controlled by it's governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustee
New trustees may be appointed by the existing trustees by virtue of a power contained within the Trust Deed. A minimum
of three trustees is required by the Trust Deed
Organisation structure
The trustees must hold at least two ordinary meetings each year. At those meetings, the trustees agree broad
strategy and activity for the Trust, including consideration of grant making, investments and reserves.
Induction and training of new trustees
On appointment, new trustees must expressly acknowledge his or her acceptance of office of Trustee of the Charity. In
selecting new trustees, the trustees must have regard to the skills, knowledge and experience needed for effective
administration of the Charity. New Trustees are provided with a copy of the Trust Deed and a copy of the Charity's latest
report and accounts.
Risk management
The trustees have assessed the risks to which the charity might be exposed and consider them to be minimal. The
Trustees have addressed such risks that exist.
Approved by order of the board of trustees on...ac15, 2025 and signed on its behalf
Cue Dams
Sir Crispin Davis - Trustee
4

THE CRISPIN DAVIS FAMILY TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Year ended 5 April 2025
Trustees' responsibilities in relation to the financial statements
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and
application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
seleçt suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the
financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act
2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities
Approved by order of the trustees on.
Der l5, 2025
.....and signed on its behalf by:
Cap Down.
Sir Crispin Davis - Trustee
5

THE CRISPIN DAVIS FAMILY TRUST
Independent Auditor's Report to the Trustees of The Crispin Davis Family Trust
Year ended 5 April 2025
Opinion
We have audited the financial statements of The Crispin Davis Family Trust (the 'charity') for the year ended 5 April 2025
which comprise the Statement of financial activities, the Balance sheet, Cashflow statement and the notes to the financial
statements, including a summary of significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and the United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the.financial statements:
give a true and fair view of the state of the charity's affairs as at 5 April 2025, and of its incoming resources
and application of resources including its income and expenditure for the year then ended;
have been properly prepared in accordance with the United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial
statements section of our report. We are independent of the charity in accordance with the ethical requirements that are
relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other information
The other information comprises the information included in the trustees annual report, other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information.

THE CRISPIN DAVIS FAMILY TRUST
Independent Auditor's Report to the Trustees of The Crispin Davis Family Trust
Year ended 5 April 2025
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be
materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we are required to report
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to report to you if, in our opinion:
• the information given in the financial statements is inconsistent in any material respect with the trustees'
.
report; or
Sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the statement of trustees' responsibilities set out on page 5, the trustees are responsible
for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative
but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act
and relevant regulations made or having effect thereunder.
7

THE CRISPIN DAVIS FAMILY TRUST
Independent Auditor's Report to the Trustees of The Crispin Davis Family Trust
Year ended 5 April 2025
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of the financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and the charity sector, we identified that the principal risks of non-compliance
with law and regulations related to the Charities Act 2011, and we considered the extent to which non-compliance might
have a material effect on the financial statements. We evaluated management's incentives and opportunities for
fraudulent manipulation of the financial statements (including the risk of override of controls) and the audit procedures
performed included:
• Correspondence with Management including consideration of known or suspected instances of non-compliance
with laws, regulation and fraud;
Testing of bank transactions, including tracing grant payments made, to supporting information.
Testing completeness of income
•
Testing accounting adjustments
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the
more that compliance with a law or regulation is removed from the events and transactions reflected in the financial
statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding
irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission
or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-quidance/Standards-and-quidance-for-auditors
(Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx.
This description forms part of our auditor's report
8

THE CRISPIN DAVIS FAMILY TRUST
Independent Auditor's Report to the Trustees of The Crispin Davis Family Trust
Year ended 5 April 2025
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Audit and
Reports) Regulations 2008. Our Audit work has been undertaken so that we might state to the charity's trustees those
matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibility to anyone other that the charity's trustees as a body, for our audit work,
for this report, or for the opinions we have formed.
Gibson Booth Chartered Accountants & Statutory Auditors
New Court
"Abbey Road North
Huddersfield
HD8 8BJ
Cubran Berthe
Gibson Booth (Jan 15, 2026, 2:30pm)
15 Jan 2026
[Date]
Gibson Booth is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a
company under section 1212 of the Companies Act 2006.
9

THE CRISPIN DAVIS FAMILY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
Year ended 5 April 2025
Note
Incoming resources
Donations
Investment income
Total incoming resourses
Resources expended
Charitable activities
Grant and donations
Governance cost
Total resources expended
Net incoming/(outgoing) resources
before transfers
Gross transfers between funds
Net income/(outgoing) resources before
other recognised gains and losses
Other recognised gains and losses
Gains/(losses) on investments
Net movements in funds
Fund balance brought forward at 6 April 2024
Fund balance carried forward at 5 April 2025
2
3
4
5
Unrestricted
Income
Fund
-
215,151
215,151
501,000
6,150
507,150
(291,999)
291,999
:
-
10
Expendable
endowment
Fund
€
:
-
(291,999)
(291,999)
-
(675,332)
(967,331)
9,246,462
8.279,131
Total
this year
2025
€
215,151
215,151
501,000
6,150
507,150
(291,999)
-
(291,999)
-
(675,332)
(967,331)
9,246,462
8.279.131
Tc
last y
20
210.2
210.2
468,2
5,8
474,3
(264,4
-
(264,4
976,1
712;
8,534,0
9.246-

THE CRISPIN DAVIS FAMILY TRUST
BALANCE SHEET
As at ended 5 April 2025
Fixed assets
Investment at market value
Current assets
Debtors
Barclays Wealth
Cash at Handelsbanken Wealth & Asset Mgt
Cash at Handelsbanken Wealth & Asset Mgt (USD account)
Creditors: amounts falling due within one year
Net current assets
Total assets less current liabilities
Note
5
Total
this year
2025
8,049,406
6
7
53,826
182,019
235,845
(6,120)
229,725
8,279,131
Net assets
Funds
Expendable endowment fund
Unrestricted income fund
8.279,131
8,279,131
8.279.131
Approved by order of the board of trustees on. Dee 1St.
cock and signed on its behalf
Cup Dane
Sir Crispin Davis - Trustee
11
Total
last year
2024
8.899,738
52,723
303,155
806
356,684
(9,960)
346,724
9,246,462
9,246,462
9,246,462
9,246,462

THE CRISPIN DAVIS FAMILY TRUST
CASHFLOW STATEMENT
As at ended 5 April 2025
2025
(291,999)
Net income for the year
Adjustments for
Interest and dividends
Exchange rate gains and losses
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
Cash flows from operating activities
(215,151)
(1,103)
(3,840)
(512,093)
Cash flows from investing activities
Interest and dividends
Proceeds from sale of investments
Purchase of investments
Net cash used by investing activities
215,151
175,000
390,151
Change in cash and cash equivalents
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
(121,942)
303,961
182,019
12
2024
(264,430)
(210,276)
28
1,173
4,800
(468,703)
210,276
175.000
385,276
(83,427)
387,388
303,961

THE CRISPIN DAVIS FAMILY TRUST
ACOUNTING POLICIES
Year ended 5 April 2025
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019)",
Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
" Ireland" and the Charities Act 2011. The financial statements have been prepared on a going concern basis
and under the historical cost convention with the exception of investments which are included at market value,
as modified by the revaluation of certain assets.
The Crispin Davis Family Trust is an unincorporated charity registered in England & Wales.
Going Concern
There are no material uncertainties about the charity's ability to continue.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and
has been classified under the headings that aggregate all cost related to the category. Where costs cannot be
directly attributed to particular headings they have been allocated to activities on a basis consistent with the
use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as commitment
but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
The expendable endowment fund has been invested to primarily produce income although the trustees may
use the fund for charitable purposes if required.
Restricted funds can only be used for a particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating
result.
13

THE CRISPIN DAVIS FAMILY TRUST
ACOUNTING POLICIES
Year ended 5 April 2025
Investments are shown at market value at the balance sheet date. All gains or losses on the revaluation or on
disposal are included in the Statement of Financial Activities
Investment income is recognised as receivable.
Financial Instruments Policy
A financial asset of a financial liability is recognised only when the charity become a party to the contractual
provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes
a financing transaction, where it is recognised at the present value of the future payment discounted at a
market rate of interest for a similar debt instrument.
14

THE CRISPIN DAVIS FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 5 April 2025
1 Donations
Gift of shares
2025
-
• 2 Investment income
COIF Charities Global Equity Income Fund Income Units
COIF Charities Global Equity Income Fund Income Units
COIF Charities Global Equity Income Fund Income Units
COIF Charities Global Equity Income Fund Income Units
Bank interest
51,709
53,221
53,826
53,826 *
2,569
(Investment income is all unrestricted funds income)
* Dividend distributions due but not paid at 5 April 2024
3 Grants made
Whizz Kid
Tushinde Children's Trust
UBS Optimus Foundation
School Home Support
One to One Childrens Fund
Hope and Homes for Children
Mercey Learning Centre
215,151
50,000
50,000
300,000
42,000
9,000
50,000
(Grant expenditure is all unrestricted Fund expenditure)
Grants commitments
501,000
-
4 Governance cost
Independent Audit fees -
Accountancy fees -
Bank charges
(Governance expenditure is all unrestricted fund expenditure)
4.220
6,150
Notes continued over
15
2024
52,723
52.415
52.415
52,723
210,276
50,000
45,000
300,000
65,750
8,076
468,826
-
4,000
5,880

THE CRISPIN DAVIS FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 5 April 2025
2025
2024
5 Market value
Carry (market) value at beginning of year
Add Additions at cost
Less disposals at carry value
Add/(deduct) net gain/(loss) on disposal
Add/(deduct) net gain/(loss) on revaluation
Carry (market) value at end of year
• Bank Charges & Exchange rate adjustments
Exchange rate variances on Dollar account
8,899,738
(175,000)
3,842
(679,174)
8,049,406
8,097,952
(175,000)
976,786
8,899,738
Analysis of Investment
Fixed Assets
3,023,932.40 COIF Charities Global Equity Income Fund
Income Units
*Mkt Value
at year end
8,049,406
28
28
*Mkt Value
at year end
8,899,738
Total
8,049,406
8,899,738
(*Based on the mid market valuations provided by CLA)
The historic cost of the investments at 5 April 2025 was £7,610,464 E7,759,697 at 5 April 2024)
6 Debtors
Dividends due but not paid at 5 April 2025*
53820-
52,723
52,723
7 Creditors: amount falling due within one year
Accountancy fees -
Independent Audit fees -
4,200
1,920
6,120
8,160
1,800
9,960
Notes continued over
16

THE CRISPIN DAVIS FAMILY TRUST
NOTES TO THE FINANCIAL STATEMENTS
Year ended 5 April 2025
8 Analysis of Funds
At
06-Apr-24
Income
Expenditure
Gains/losses
& transfers
At
05-Apr-25
Expendable endowment funds
Unrestricted funds
9,246,462
9,246,462
215,151
215,151
Income
At
06-Apr-23
(507,150)
(507,150)
Expenditure
€
(967,331)
291,999
(675,332)
Gains/losses
& transfers
8.279,131
8,279,131
At
05-Apr-24
Expendable endowment funds
Unrestricted funds
8,328,267
205,811
8,534,078
210,304
(474,706)
210.304
(474,706)
918,195
58,591
976,786
Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the genera
charitable objectives.
Expendable endowment funds are primarily invested to produce income but may be used to fund
charitable purposes.
9 Analysis of changes in net debt
9,246,462
9,246,462
Cash and Cash equivalents
Total
At
06-Apr-24
303,961
303,961
Cash flows
Other non-
cash changes
(121,942)
-
(121,942)
At
05-Apr-25
€
182,019
182,019
10 Related Party Disclosures
Crispin Davis was chairman of Whizz Kidz until July 2025. In the year ended 5 April 2025 the charity paid a grant
to Whizz Kidz of £50,000. In the year ended 5 April 2024 a grant of £50,000 was made to Whizz Kidz.
11 Staff costs and Trustees' Remuneration and Benefits
There were no employees of the charity during the year. The trustees received no remuneration.
There were no reimbursed expenses in the year. In the previous year there were no reimbursed expenses.
17